The Food, Conservation and Energy Act of 2008 provides 2008-2012 crop year marketing assistance loans and loan deficiency payments (LDPs) for wool to eligible producers who produce and shear wool from live sheep and goats. The LDP program is also available to eligible producers of nongraded wool in the form of unshorn pelts for the 2008-2012 crop years.
The wool nonrecourse marketing assistance loan and LDP program provides eligible producers with two forms of Federal assistance. Eligible producers can either:
1. request a nine-month marketing assistance loan; or
2. agree to forgo the loan and request an LDP.
The program helps stabilize America's wool industry and ensures the well-being of agriculture in the United States. Nonrecourse marketing assistance loans are administered by USDA's Farm Service Agency (FSA) on behalf of the Commodity Credit Corporation (CCC).
The Fact Sheet
provides details on the following:
- Wool Nonrecourse Marketing Assistance Loans
- Final Loan Availability Date
- Repayment Rates and Posted Prices
Loan and LDP Rates
The following are the national loan rates for the 2008-2012 crop years for wool (grease basis):
$1.00 per pound
$0.40 per pound
All counties in the states listed in the following table shall use loan rates applicable to Region 1 for graded and nongraded wool.
States and applicable counties listed in the following table shall use loan rates applicable to Region 2 for graded and nongraded wool.
Apache, Cochise, Gila, Graham, Greenlee, Navajo
Big Horn, Carbon, Carter, Custer, Daniels, Dawson, Fallon, Fergus, Gallatin, Garfield, Golden Valley, McCone, Musselshell, Park, Petroleum, Phillips, Powder River, Prairie, Richland, Roosevelt, Rosebud, Sheridan, Stillwater, Sweet Grass, Treasure, Valley, Wheatland, Wibaux, Yellowstone
Daggett, Duchesne, Grand, San Juan, Summit, Uintah
States and applicable counties listed in the following table shall use loan rates applicable to Region 3 for graded and nongraded wool.
Coconino, LaPaz, Maricopa, Mohave, Santa Cruz, Pima, Pinal, Yavapai, Yuma
Beaverhead, Blaine, Broadwater, Cascade, Chouteau, Deer Lodge, Flathead, Glacier, Granite, Hill, Jefferson, Judith Basin, Lake, Lewis and Clark, Liberty, Lincoln, Madison, Meagher, Mineral, Missoula, Pondera, Powell, Sanders, Toole, Ravalli, Silver Bow, Teton
Beaver, Box Elder, Cache, Carbon, Davis, Emery, Garfield, Iron, Juab, Kane, Millard, Morgan, Piute, Rich, Salt Lake, Sanpete, Sevier, Tooele, Utah, Wasatch, Washington, Wayne, Weber
When requesting a loan or LDP for wool or an LDP for unshorn pelts, producers must complete either a:
- CCC-709 for field direct LDPs;
- CCC-633-LDP for basic LDPs;
- CCC-709-PELT, for field direct unshorn pelt LDPs;
- CCC-633-PELT, for basic unshorn pelt LDPs.